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Zaggle Eyes Global Fintech Frontier in Abu Dhabi

6 Oct

Summary

Zaggle to establish a wholly owned entity in Abu Dhabi's ADGM.
The subsidiary will focus on fintech, SaaS, and AI opportunities.
Zoyer platform aims to contribute up to half of Zaggle's revenue.

Zaggle Prepaid Ocean Services is set to establish a wholly owned subsidiary in Abu Dhabi Global Market (ADGM), UAE. This strategic move aims to bolster the fintech company's international presence and tap into burgeoning opportunities within financial technology, SaaS, and artificial intelligence sectors. The new entity, tentatively named Zaggle Holding Limited, will also function as a holding company for various investments.

This expansion aligns with Zaggle's broader objective to increase the contribution of its software-led businesses. The company anticipates its Zoyer spend management platform to account for approximately 45-50% of its total revenue moving forward. Zaggle also foresees improved margins and positive free cash flow within the next 18 to 24 months.

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